i personally would do a smaller scam and get away with it, no going on 60 minutes nothing like that
― lag∞n, Thursday, 28 March 2024 18:06 (one month ago) link
Are his parents still teaching legal ethics at Stanford Law?
― citation needed (Steve Shasta), Thursday, 28 March 2024 18:07 (one month ago) link
the thing with him and elizabeth homles is it seems like they really did want to become steve job, its a different kind of scam theyre looking to go legit, its too much delusion if youre scamming you should be honest with yourself and plan accordingly
― lag∞n, Thursday, 28 March 2024 18:10 (one month ago) link
elizabeth homles really cant be topped cause from the beginning every expert was saying her plan wasnt going to work because its just not enough blood, a hard physical reality, but she was just like no i will figure it out i will wear turtlenecks, also fucking up medical things is frowned upon in ways that making a bad computer program is not
― lag∞n, Thursday, 28 March 2024 18:13 (one month ago) link
likewise stealing money is also frowned upon, whereas the wework guy got away with a billion dollars and is free to go to the coffee shop if he feels like it, he just made a very dumb company and got a japanese bank to give him infinite money, when the business failed no one went to jail
― lag∞n, Thursday, 28 March 2024 18:16 (one month ago) link
Holmes fraud is worse because lives at least hypothetically could have been at stake, except it's hard to imagine things ever would have actually reached the stage where they were.
― longtime caller, first time listener (man alive), Thursday, 28 March 2024 18:19 (one month ago) link
elizabeth homles really cant be topped cause from the beginning every expert was saying her plan wasnt going to work because its just not enough blood, a hard physical reality, but she was just like no i will figure it out i will wear turtlenecks
― lag∞n, Thursday, March 28, 2024 11:13 AM (six minutes ago)
really an icon for this tbh
― G. D’Arcy Cheesewright (silby), Thursday, 28 March 2024 18:21 (one month ago) link
did a husky voice, my god, she was really doing her best
the voice thing was so wild lol
― lag∞n, Thursday, 28 March 2024 18:23 (one month ago) link
― longtime caller, first time listener (man alive), Thursday, March 28, 2024 2:19 PM (four minutes ago) bookmarkflaglink
no theranos was actually performing blood tests and fucking them up
This was a federal sentence, he'll have to serve 85%, he's 32, he'll get out when he's 53-54.
― Ippei's on a bummer now (WmC), Thursday, 28 March 2024 18:31 (one month ago) link
https://bsky.app/profile/mitchellepner.bsky.social/post/3korf5o3jcb2i
apparently he's eligible for parole after 13 years
― 𝔠𝔞𝔢𝔨 (caek), Thursday, 28 March 2024 18:33 (one month ago) link
i thought 85% was standard in the feds too
― lag∞n, Thursday, 28 March 2024 18:36 (one month ago) link
some light googling is confirming this fwiw
― lag∞n, Thursday, 28 March 2024 18:37 (one month ago) link
There is no possibility of parole in federal criminal cases, but Bankman-Fried can still shave time off his 25-year sentence with good behavior.
"SBF may serve as little as 12.5 years, if he gets all of the jailhouse credit available to him," Mitchell Epner, a former federal prosecutor, told CNN.
Federal prisoners generally can earn up to 54 days of time credit a year for good behavior, which could result in an approximately 15% reduction.
Since 2018, however, nonviolent federal inmates can reduce their sentence by as much as 50% under prison reform legislation known as the First Step Act.
Epner says the First Step Act was billed as a civil rights measure, to help minority offenders who committed non-violent drug-trafficking offenses.
"It has turned out to be an enormous boon for white-collar criminal defendants, who are already given much lower sentences ... than drug-traffickers," Epner added.
― 𝔠𝔞𝔢𝔨 (caek), Thursday, 28 March 2024 18:42 (one month ago) link
ah ok well good luck to him
― lag∞n, Thursday, 28 March 2024 18:44 (one month ago) link
Biden can pardon him if he makes a hefty donation to the DNC
― Andy the Grasshopper, Thursday, 28 March 2024 18:45 (one month ago) link
wonder if hes got any wallets he forgot about
― lag∞n, Thursday, 28 March 2024 18:47 (one month ago) link
never forget
Sequoia took down their SBF profile but the internet ensures it will live forever pic.twitter.com/0P3DWookmY— BuccoCapital Bloke (@buccocapital) March 28, 2024
― 𝔠𝔞𝔢𝔨 (caek), Thursday, 28 March 2024 19:05 (one month ago) link
guys who control billions of dollars of capital losing their minds at the idea of buying a banana
― lag∞n, Thursday, 28 March 2024 19:08 (one month ago) link
also saying super app but then describing a banking app he couldnt even be bothered to say you can call an uber from it too, low energy
― lag∞n, Thursday, 28 March 2024 19:13 (one month ago) link
Guys like that know that the best way to be fabulously wealthy is to insert yourself into financial transactions that involve incredibly huge amounts of money and raking off a small percentage of it, over and over again. SBF was selling them the idea of a service that would insert itself into every financial transaction on earth. Achieve that dream and you control humanity. Surprised they didn't jump out the window in an ecstatic transport.
― more difficult than I look (Aimless), Thursday, 28 March 2024 19:17 (one month ago) link
he didnt say anything like that he just said you could buy a banana
― lag∞n, Thursday, 28 March 2024 19:21 (one month ago) link
Everyone wants to remake PayPal
― Slorg is not on the Slerf Team, you idiot, you moron (Boring, Maryland), Thursday, 28 March 2024 21:23 (one month ago) link
It's one banana! What can it cost, ten dollars?
― kinder, Thursday, 28 March 2024 21:40 (one month ago) link
while ago amazon started giving out free bananas in seattle cause they were getting bad pr about taking over the city, thats what im talkin about free bananas costs zero no app needed thank you mr bezos for the banana
― lag∞n, Thursday, 28 March 2024 21:43 (one month ago) link
This Sequoia piece is so good with the benefit of hindsight.
https://web.archive.org/web/20221027180943/https://www.sequoiacap.com/article/sam-bankman-fried-spotlight/
The math couldn’t be clearer. Very high risk multiplied by dynastic wealth trumps low risk multiplied by mere rich-guy wealth. To do the most good for the world, SBF needed to find a path on which he’d be a coin toss away from going totally bust.
I can't believe they lost their entire investment in this guy.
― jmm, Thursday, 28 March 2024 21:50 (one month ago) link
that shit is so funny galaxy brain isnt big enough
― lag∞n, Thursday, 28 March 2024 21:53 (one month ago) link
To maximize your expected value, you must aim for it and then march blindly forth, acting as if the fabulously lucky SBF of the future can reach into the other, parallel, universes and compensate the failson SBFs for their losses. It sounds crazy, or perhaps even selfish—but it’s not. It’s math. It follows from the principle of risk-neutrality.
See, by this logic there's a non-failson SBF universe out there which is doing awesome. Effective altruism wins again.
― jmm, Thursday, 28 March 2024 22:02 (one month ago) link
reality: they are morons in ALL the universes, that’s the singularity they keep talking about
― schrodingers cat was always cool (Hunt3r), Thursday, 28 March 2024 22:54 (one month ago) link
What’s the most you ever lost on a coin toss
― longtime caller, first time listener (man alive), Friday, 29 March 2024 01:19 (one month ago) link
“As soon as you say, ‘What are the odds that there’s a way to be infinitely happy? What if infinite utility is a possibility? Now, all of a sudden, we’re comparing hierarchies of infinity. Linearity breaks down.”
lolololol
― default damager (lukas), Friday, 29 March 2024 01:57 (one month ago) link
pic.twitter.com/gc1Um92EGD— Dan Davies (@dsquareddigest) April 2, 2024
― xyzzzz__, Tuesday, 2 April 2024 21:45 (three weeks ago) link
“Usually the depth of the downturn is in proportion to the magnitude of the bubble, which would imply we’re in for a brutal time.”Venture Capital reckons with the end of the “megafund” erahttps://t.co/qI1SXfBXc4?— George Hammond (@GeorgeNHammond) April 3, 2024
― papal hotwife (milo z), Thursday, 4 April 2024 02:53 (three weeks ago) link
hmm. I wouldn't have guessed you followed the 'Financial Times'. Do you trust them?
― more difficult than I look (Aimless), Thursday, 4 April 2024 03:07 (three weeks ago) link
Like the WSJ, the FT's reporting is pretty reliable and high quality, within its certain lane
― longtime caller, first time listener (man alive), Thursday, 4 April 2024 03:16 (three weeks ago) link
ChatGPT hallucinates. Self-driving cars crash. Amazon is abandonning its 'just walk out' checkouts. What if AI is overhyped? https://t.co/vgHyGf6lvn— Henry Mance (@henrymance) April 6, 2024
― xyzzzz__, Saturday, 6 April 2024 11:35 (three weeks ago) link
Aside from the obvious ‘fuck this guy forever’ who looks at Neom and thinks “this will definitely happen and be a rousing success”?
Bill Ackman dreams of turning Gaza into another Neom https://t.co/YchbOfx02T pic.twitter.com/eNmEZ0r1G6— kelly p. (@k_pendergrast) April 6, 2024
― papal hotwife (milo z), Sunday, 7 April 2024 01:49 (three weeks ago) link
i love high-level thoughts
― mookieproof, Sunday, 7 April 2024 01:58 (three weeks ago) link
"ruled by a consortium of Gulf States and the US" wtf?????
― more difficult than I look (Aimless), Sunday, 7 April 2024 02:03 (three weeks ago) link
Stakeholders and shareholders
― papal hotwife (milo z), Sunday, 7 April 2024 02:09 (three weeks ago) link
Given what I know of him I'm surprised to find him taking a position on Gaza that would be considered unacceptably left-wing and Jew-hating by a lot of rightist commentators (and indeed, there they are in the replies, accusing him of being left-wing and enabling Jew-haters because he dares to imagine Gazans continuing to live in Gaza and to suggest there is a deficit of hope in their current status.)
― Guayaquil (eephus!), Sunday, 7 April 2024 03:11 (three weeks ago) link
Here is where neom is at.
80% downgrade…McKinsey’s where to next? pic.twitter.com/yhvXis1UT0— Rupak (@ghose77) April 5, 2024
― xyzzzz__, Sunday, 7 April 2024 09:20 (three weeks ago) link
Ok just learning about Neom and lol
― Slorg is not on the Slerf Team, you idiot, you moron (Boring, Maryland), Sunday, 7 April 2024 14:06 (three weeks ago) link
it seemed like such a good plan
― lag∞n, Sunday, 7 April 2024 14:09 (three weeks ago) link
Maybe what Ackman meant by "Think the Saudi neom.com but on the Mediterranean" was "a plan announced with great fanfare and promises of massive financial backing by the sheikhs, which will inevitably be mostly abandoned and the parts not abandoned downgraded, once the spotlight of the world has moved on"
― Guayaquil (eephus!), Sunday, 7 April 2024 14:55 (three weeks ago) link
I always find it baffling that these people seem to genuinely think these techno-utopian ideas can work. Who would fund such a thing? Who would run it? Why would it work in a small, cut off, impoverished area that has been ravaged by war? If something like that is a workable idea, why hasn't it already been built somewhere where it would be much easier and less challenging to build? It's like saying "we'll revitalize Gaza with flying cars." No one else has flying cars. They're not workable anywhere else on the planet. Why would they make sense in Gaza?
It's sort of like all those democrat "let's just teach the coal miners to code" type initiatives. How are you going to do that? Why would west virginia or east kentucky be a logical place to build a tech hub? Or all those ideas to build a crypto utopia on some island. Why does that idea actually make sense other than you have a lot of money and you want it to happen? Like they think capital can just build anything anywhere and make it work. Like let's just make South Sudan into the AI capital of Africa while we're at it - it barely has a modern economy or infrastructure, it's struggling with war and starvation, but you can achieve anything if you put your mind to it.
― longtime caller, first time listener (man alive), Sunday, 7 April 2024 15:40 (three weeks ago) link
the whole “learn to code -> ??? -> profit!” thing is such blatant patronizing insufficient nonsense
― brimstead, Sunday, 7 April 2024 15:44 (three weeks ago) link
this one even for the genre is particularly ridiculous, what if instead of genocide utopia, as if the entities doing genocide are going to be like hey yeah good idea well just do the opposite
― lag∞n, Sunday, 7 April 2024 15:45 (three weeks ago) link
The coding one is particularly fatuous given the number of companies who don’t need to have staff in a colocated office who are forcing staff to commute to a colocated office.
― Cemetry Gaetz (DJP), Monday, 8 April 2024 17:59 (three weeks ago) link